Good evening StockBandits!
The bulk of the session was characterized by trendless action once again today, although some afternoon strength ultimately made the difference as each of the major indexes were able to post modest gains. The trading ranges we’ve been closely watching on the daily charts in recent weeks are still intact, making it easy to overanalyze the action on any given day despite the fact we’ve seen nothing of technical significance for weeks.
I’m still waiting for a close beyond the trading range boundaries, and until then am sticking primarily with shortened timeframes and staying selective while waiting for better momentum to arrive. One of these days it will!
Please leave your comments and/or questions below if you have any, I always enjoy the interaction.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: UAUA, KLAC, LRCX, WY, MAN, WMS, MDVN
Swing Trading Candidates:
MDVN has been on quite a run lately, pausing for occasional rests on the way up. Over the past few days, this one has pulled back in a shallow fashion and stabilized, implying it could turn higher once again very soon. I’ll be a buyer if this one can clear $33.75 to turn back up out of this bull pennant pattern.
Bullish Watch:
TSTC, VMED, MMM, TTM, SEED, UAUA, AONE, CREE, IPI, POT, DECK, TRIT, TRW, SWSI, RMBS, KLAC, LRCX, WY, ALB, FMCN, MRX, CBT, VNO, SLXP, LUV, TIN, AME, TEG, DTE, MDVN, MAN
Bearish Watch:
WMS, UPL, NUVA, UNM, ATLS, PLCE
The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.
